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Governing Documents - Official legal documents which dictate how an entity is operated. Governing documents of a CORPORATION include ARTICLES OF INCORPORATION and BYLAWS; a PARTNERSHIP includes partnership agreement; a TRUST includes trust agreement or trust indenture; and an LLC includes ARTICLES OF ORGANIZATION and OPERATING AGREEMENT.
It is generally taken to include currency or legal tender, cheques or any other document which circulates as cash. It is generally classified like a current asset while it is acces
Fixed Assets These are tangible, relatively long-lived items owned through the business. The benefit of these assets is obtainable not only in the accounting period wherein the
SQB Corporation reports sales of $10,000,000 for Year 2, with a gross profit margin of 40%. 20% of SQB's sales are on credit. Year 1 Year 2
The American Accounting Association is one of the accounting organizations discussed later in this Introduction it defines accounting as "the process of measuring, identifying, and
Explain the procedure followed in government system of accounting in india
Current Liabilities We have studied about liabilities are claims of outsiders against the business. Conversely, these are amounts owed through the business to people who have
Trading account is ready to ascertain the Gross Profit and Loss of a firm; here Gross Profit is the excess of total revenue over cost of goods sold as the credit side of the tradin
To establish and implement an accounting system for Trigon Corporation, using MYOB accounting software. Needed: 1. Make and print a suitable chart of accounts in MYOB
Q. Explain accounting structure? The accounting structure of a profit seeking business is an information system designed to provide relevant financial information on the resour
Make a new information system for this company. Your solution should contain the following items: 1. An overview of the primary features of the new system, describing why this
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